Gazette debate weighs pros and cons of Prop CC
The Gazette - Marianne Goodland
Colorado voters can decide in November whether to keep their refunds under the Taxpayer’s Bill of Rights or let the state keep the money to improve transportation, K-12 schools and higher education.
But Proposition CC, which poses that choice, "is not an assault on TABOR," Democratic House Speaker KC Becker said during an hourlong debate Tuesday night in Colorado Springs. "Any change to TABOR will go to voters, and they will have a chance to weigh in."
Michael Fields, executive director of Colorado Rising Action, disagreed, however, during the debate at the Penrose House.
Prop CC "does not fix the problem. We have to prioritize the state budget we have," Fields said.
If Proposition CC is passed, eliminating the refunds in perpetuity, the state would get about $600 million in the first two years, state economists said.
TABOR limits state budget growth using a formula based on population and inflation. If the state collects more revenue than TABOR allows, it’s refunded to the taxpayers. That’s only happened nine times since state voters passed TABOR in 1992.
In 2020, taxpayers would get a refund of about $38 each. Then, if passed, Prop CC would take effect in 2021.
The debate was sponsored by The Gazette, KOAA News5 and the El Pomar Foundation.
Read the full article here.